Vancouver, BC, Canada, Dec. 01, 2022 (GLOBE NEWSWIRE) -- First Tellurium Corp. (CSE: FTEL, OTC FSTTF) (the "Company" or "First Tellurium") reports that government initiatives for development of critical and green metals continue to reinforce the value of the Company's tellurium resource at both the Deer Horn Project in west-central British Columbia and Klondike Tellurium Project in Colorado.
"Canadian and U.S. governments are really pushing new strategies and funding initiatives to address the problem of critical mineral supplies," said First Tellurium President and CEO Tyrone Docherty. "North America is just too dependent on foreign sources for the critical metals required for clean energy, defense and other essential needs."
First Tellurium reported recently that its exploration at Deer Horn in October (reported November 2), identified an apparent 1.1-kilometer extension of the existing silver-gold-tellurium vein system which would extend the overall system to approximately 3.5 kilometers (2.2 miles). Deer Horn hosts one of the world's only NI 43-101-compliant resources of tellurium with high-grade precious metals. In addition, the Company's Klondike Tellurium Project in Colorado is considered one of the country's top tellurium exploration projects and was previously owned by First Solar Inc. as a potential source of raw tellurium for its solar panels.
Docherty noted that the Cadmium Telluride Photovoltaics Accelerator Consortium, a $20 million initiative designed to make cadmium telluride (CdTe PV) solar cells less expensive and more efficient, was launched in August 2022 by the U.S. Department of Energy. The program will also develop new markets for solar cell products. By 2030, the program aims to increase domestic CdTe PV material and module production, achieve cell efficiencies above 26%, and decrease module costs to below $0.15/watt.
"Governments are just starting to understand the importance of tellurium," said Docherty. "It has flown largely under the radar, even though it's essential for cadmium-telluride solar panels and new lithium-tellurium (Li-Te) batteries that could revolutionize energy storage." Deer Horn's strategic partner Fenix Advanced Materials is spearheading research and development for new solid-state, Li-Te batteries in partnership with the University of British Columbia Okanagan. The UBCO research was featured recently in a Global News segment.
"This partnership with UBCO has played a key role in helping uncover some exciting innovations in new battery technology and other clean technology solutions," said Fenix Founder Don Freschi. Mr. Freschi also sits on First Tellurium's Advisory Board.
Docherty pointed to a November 13, 2022 CBC report that the U.S. Department of Defense has been quietly soliciting applications for Canadian mining projects seeking American public funding through a major national security initiative.
Trade in mineral-based strategic and critical materials between the U.S. and Canada exceeds $76 billion, and Canada is a global hub for mining project finance, including the risk finance that supports junior mining companies exploring for strategic and critical materials and developing the next generation of projects.
Canada has substantial resource potential in existing operations and planned projects that could support U.S. needs for cobalt, tantalum, antimony, and twenty additional strategic and critical materials including tellurium.
This follows a White House report last year warning that dependence on certain foreign-made products represents a national security risk to the U.S., and it focused on semiconductors, batteries, medicines and 53 types of minerals.
The report stated: "The United States must secure reliable and sustainable supplies of critical minerals and metals to ensure resilience across U.S. manufacturing and defense needs..." In addition to the need for stable supplies of copper and tungsten, the report included a list of "strategic and critical metals" that included tellurium.
"It's clear that North America is going to need a lot more tellurium," said Docherty. "This is why we're on the hunt for new tellurium projects in addition to Deer Horn and Klondike. We're also sitting on other important metals at Deer Horn. We confirmed copper porphyry mineralization this year, and the property was originally staked for its large zone of tungsten (as noted in the Company's latest Preliminary Economic Assessment.)
FTEL's New Website, Presentation and Video
We're excited to announce the launch of our new website, where you'll find information about our company and properties. In addition, we have also released a new animated pitch deck, which you can find here. This presentation provides an overview of our business and future opportunities. Finally, we have also released a new explainer video, which you can find here. This video dives into the details of our properties and how they can benefit First Tellurium Investors.
About First Tellurium Corp.
First Tellurium's unique business model is to generate revenue and value through mineral discovery, project development, project generation and cooperative access to untapped mineral regions in Indigenous territory with sustainable exploration.
Our polymetallic (tellurium, gold, silver copper, tungsten) Deer Horn Project in British Columbia and Klondike tellurium-gold property in Colorado anchor a diversified search for metals, working in alliance with Indigenous peoples, NGOs, governments and leading metals buyers. This is the future of mineral exploration: generating revenue by exploring responsibly and leveraging diverse partnerships.
First Tellurium proudly adheres to and supports the principles and rights set out in the United Nations Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free, prior and informed consent.
On behalf of the board of directors of
First Tellurium Corp.
President and CEO
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Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated event.
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